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What is accidental (implied or tacit) revocation concerning wills?
The simplest method of revoking a will is by validly executing a further will or codicil. A clear way of doing this is by including a revocation clause in the later will. An example is: “I revoke all former wills ...How would the Principle of Survivorship affect me if I have a joint foreign bank account or own a property overseas jointly?
Care should be taken when preparing a will for a South African who jointly owns a foreign bank account or investment account. If one joint owner passes away, the deceased’s share might not pass through their estate and may ...What are the implications of the European Succession Regulation no. 650/2012 (BRUSSELS IV) concerning estates?
Many countries in Europe, such as France, Spain, Germany, and Italy restrict testamentary freedom through their forced heirship rules, which can potentially provide statutory or fixed shares to certain family members. This means that in some cases, a South African ...What is forced heirship?
A set of rules which restrict the testator’s freedom to distribute his/her estate in order to protect certain heirs, such as a spouse or child. In most countries where this system applies, a portion of the estate is ...What is freedom of testation?
Freedom of testation is a law that allows a testator (or testatrix) to bequeath assets in a will as they please. South Africa observes freedom of testation, so a person can leave his or her assets to whoever they like....Does my SA will cover my UK assets?
Yes, a worldwide will works very well if you live in South Africa but have assets in a country with similar heirship laws to our own, such as the UK. Like South Africa, the UK has freedom of testation. It’...